Released on: March 12, 2008, 1:50 pm

Press Release Author: Panama International Merchandise Mart - PIMM

Industry: International Trade

Press Release Summary: The Panama International Merchandise Mart S. A. - PIMM
(www.pimm.com) has signed a contract for financing and construction of the largest
wholesale merchandise center in Latin America with Mexico's Bufete Industrial de
Ingeniería y Construcción S.A. de C.V. - BIICSA. PIMM will be developed in Colon
Province at a cost of approximately US$1 billion dollars and will include 6,800
showrooms, 4 hotels with a total of 1,000 rooms, an office park and onsite
condominiums, among other amenities.

Press Release Body: The Panama International Merchandise Mart S. A. - PIMM
(www.pimm.com) has signed a contract for financing and construction of the largest
wholesale merchandise center in Latin America with Mexico's Bufete Industrial de
Ingeniería y Construcción S.A. de C.V. - BIICSA. PIMM will be developed in Colon
Province at a cost of approximately US$1 billion dollars and will include 6,800
showrooms, 4 hotels with a total of 1,000 rooms, an office park and onsite
condominiums, among other amenities.

BIICSA is based in Mexico City and is one of Mexico's largest international property
development groups, with projects and operations in 10 countries, including the
Punta Bandera and the Rosarito Resorts in Baja California, the Legislative Palace in
Mexico City and the petrochemical infrastructure for PEMEX (with Kellogg
International - KBR). BIICSA has also completed projects in South America and the
Caribbean.

"PIMM is our first investment into the infrastructure of Panama," states Duilio
Mottura, Director of BIICSA for Central and South America. Mr. Mottura will
coordinate all financial and legal strategies with the PIMM executive team.

"To ensure the quality of our project, we have appointed Victor Gutiérrez de Piñeres
to our management group," says Reynald Katz, President of PIMM. Mr. Piñeres has
proven experience in the wholesale commercial sector worldwide and served as the
Vice President of Development for the largest merchandise mart in the world, which
is located in the U.S., for 10 years. Among his achievements was the creation and
implementation of programs for commercialization and exportation of products to the
North American market, which have been adopted by several foreign governments.

"PIMM will have an important socio-economic impact on Panama. During the
construction and operations phases, more than 28,000 direct and indirect jobs will
be created for the area," continued Katz. "There are very few projects of this scope
in Latin America, and I am proud that we can build this in Panama." Katz finished
with, "PIMM will benefit the commercial infrastructure of Panama and will be
different from the Colon Free Zone since we do not offer warehousing, and we are not
considered a free zone."

Further details about the specifics of the agreement were not announced.

For more information about PIMM and showrooms, contact Reynald Katz at info@pimm.com.

About Panama International Merchandise Mart - PIMM

PIMM is offering foreign manufacturers, exporters, wholesalers, distributors, sales
agents and business people from around the world the chance to rent or buy a
permanent showroom in an unique international wholesale mart environment. Imagine
being able to reach a wholesale market of 566 million buyers from Latin America and
the Caribbean from just one location, in a place that has friendly customs laws, low
visa restrictions and no taxes on profits. With 6,800 showrooms, a convention
center, 10 office blocks, on-site condominiums and four hotels soon to be
constructed between to City of Colon and Panama City, PIMM will be the largest
international merchandise mart in the world. As a brand, PIMM's will be opening in
the U.S., China, India, South Africa, Brazil and Russia, among others.

About BIICSA

Bufete Industrial de Ingeniería y Construcción S.A. de C.V. - BIICSA is based in
Mexico City and is one of Mexico's largest international property development
groups, with projects and operations in 10 countries.


Web Site: http://www.pimm.com/

Contact Details: info@pimm.com
+507-391-0505
Galerias Veneto
Panama City, Panama